OTAS launches intraday market reporting tool

Intraday reporting to provide audit of day’s trading events and microstructure.

OTAS Technologies has launched an intraday version of its market reporting service.

The Intraday Lingo service pairs its existing natural language tool Lingo with microstructure charts to provide text reports identifying intraday moves and alerts in real-time and historically. It will also give standard transaction cost analysis (TCA) metrics.

OTAS said traders will able to use Intraday Lingo to build a narrative of events during the trading day, while also enabling them to click on entries to identify the microstructure of each event.

It added that the software will help meet certain requirements under MiFID II for post-trade analysis of execution performance by creating an audit trail that tracks every decision made during a trade.

Additionally, real-time alerts will enable traders to react to changing market conditions and capture risk accordingly.

Tom Doris, CEO of OTAS, said: “In a rapidly changing regulatory environment, we are committed to helping our clients maximise efficiency while being compliant to new regulatory requirements. Today’s traders are already faced with an immense amount of data to sift through while making trading decisions. Traders make hundreds, if not thousands of trades daily, sometimes with only a fraction of a second to make those decisions.”